Nifty ends up 1 percent on rate-cut hopes

MUMBAI (Reuters) - The NSE Nifty ended 1 percent higher on Friday, touching its highest intra-day level in over three weeks, on hopes that the U.S. Federal Reserve's decision overnight to hold rates would widen the door further for the Reserve Bank of India to cut rates.

The 30-share BSE Sensex gained 0.98 percent after rising as much as 1.96 percent to 26,471.82 during the session.

The Nifty ended up 1.05 percent after gaining as much as 1.97 percent to 8055, its highest level since Aug. 28. Bank shares were in the limelight.

For the week, the Sensex has risen 2.38 percent while the Nifty has gained 2.47 percent.

(Reporting by Karen Rebelo in Mumbai; Editing by Gopakumar Warrier)